LumiraDx Correlations

Summary

LMDXDelisted Stock

USD 0.42 0.02 4.55%

The correlation of LumiraDx is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

LumiraDx Correlation With Market

Good diversification

The correlation between LumiraDx and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LumiraDx and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with LumiraDx Stock

0.7	VFSWW	VinFast Auto	Pair Corr
0.69	EC	Ecopetrol SA ADR	Pair Corr
0.72	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Moving against LumiraDx Stock

0.75	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.72	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.71	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.66	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.66	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr
0.65	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.63	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.59	HPQ	HP Inc	Pair Corr
0.49	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.48	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.57	-0.02	0.62	0.02	0.71	0.3	-0.57	0.73	META
MSFT	0.28		0.24	0.13	0.18	-0.02	0.02	-0.17	0.11	-0.19	MSFT
UBER	0.57	0.24		-0.01	0.05	0.25	0.08	-0.07	0.02	0.38	UBER
F	-0.02	0.13	-0.01		-0.04	-0.36	0.32	0.6	-0.22	0.26	F
T	0.62	0.18	0.05	-0.04		-0.46	0.71	0.45	-0.75	0.39	T
A	0.02	-0.02	0.25	-0.36	-0.46		-0.47	-0.65	0.63	0.0	A
CRM	0.71	0.02	0.08	0.32	0.71	-0.47		0.81	-0.92	0.68	CRM
JPM	0.3	-0.17	-0.07	0.6	0.45	-0.65	0.81		-0.82	0.49	JPM
MRK	-0.57	0.11	0.02	-0.22	-0.75	0.63	-0.92	-0.82		-0.56	MRK
XOM	0.73	-0.19	0.38	0.26	0.39	0.0	0.68	0.49	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.81	CRM
XOM	+ 0.73	META
CRM	+ 0.71	META
CRM	+ 0.71	T
XOM	+ 0.68	CRM
MRK	+ 0.63	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.75	T
JPM	- 0.65	A
MRK	- 0.57	META
XOM	- 0.56	MRK

Risk-Adjusted Indicators

There is a big difference between LumiraDx Stock performing well and LumiraDx Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze LumiraDx's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.05	0.01	(0.01)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.11)	0.00	(0.05)	0.00	0.00	2.09	(2.02)	8.19
UBER	1.56	(0.16)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.39	(0.12)	(0.03)	0.02	2.20	(1.34)	2.53	(2.90)	11.72
T	0.92	0.26	0.15	57.17	0.86	(1.04)	2.56	(1.72)	6.47
A	1.12	(0.13)	0.00	(0.16)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.27	0.23	0.33	0.92	(1.51)	3.18	(1.91)	9.09
JPM	1.11	0.03	0.07	0.12	1.44	(1.15)	2.05	(2.00)	15.87
MRK	0.85	(0.24)	0.00	(1.03)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.04	0.06	0.01	0.20	1.20	(1.10)	2.14	(2.09)	5.78

LumiraDx Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with LumiraDx stock to make a market-neutral strategy. Peer analysis of LumiraDx could also be used in its relative valuation, which is a method of valuing LumiraDx by comparing valuation metrics with similar companies.

Fonar Burning Rock Biotech Sera Prognostics Olink Holding AB Genetron Holdings Exagen Inc Sotera Health Co Psychemedics DarioHealth Corp Enzo Biochem Biodesix American Airlines Group Alcoa Corp Apple Inc Best Buy Co

Risk & Return

Correlation

LumiraDx Corporate Management

Colleen McMillen	VP Communications	Profile
Jerome McAleer	Chief CoFounder	Profile
David DMS	Chief Officer	Profile
Dorian CPA	CFO Operations	Profile
Nigel Lindner	Chief Officer	Profile
David Scott	CTO CoFounder	Profile
Peter Scheu	Pres Operations	Profile

Still Interested in LumiraDx?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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